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Old 03-13-2013, 08:41 AM
 
20 posts, read 82,859 times
Reputation: 18

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Have been searching the housing market the past few months and noticed a disturbing trend. Some of the houses that I liked were originally bought for around $250-350k then investers trying to resell for 500-600k. Crazy! You can see original purchase price on Trulia.

 
Old 03-13-2013, 09:22 AM
 
2,180 posts, read 4,538,775 times
Reputation: 1087
well there ya go.

I paid around 250 for mine and while I am not in the market to sell, if someone came along and offered me 400 for it. I think I could be motivated to sell.
 
Old 03-13-2013, 09:23 AM
 
Location: Camarillo
932 posts, read 2,348,786 times
Reputation: 992
Quote:
Originally Posted by cm183 View Post
Have been searching the housing market the past few months and noticed a disturbing trend. Some of the houses that I liked were originally bought for around $250-350k then investers trying to resell for 500-600k. Crazy! You can see original purchase price on Trulia.
"Trying to sell" and "actually selling" are often miles apart. Sellers can ask whatever price they want. Even in a seller's market such as this one, with considerably reduced inventory out there, that doesn't mean they're going to get their asking price. Offer what you think you it's worth, and if you don't get it, move on.
 
Old 03-13-2013, 12:13 PM
 
244 posts, read 332,444 times
Reputation: 204



Greedy flipper - - YouTube

Howdy Podner!
Vegas Vic
 
Old 03-13-2013, 02:17 PM
 
6,385 posts, read 11,891,633 times
Reputation: 6875
Why is this so disturbing? Many homes which could have been bought for 250k out of foreclosure in 2010 were selling for 650-700k in 2007. There was zero market for those homes up until the start of 2012, the prices didn't reflect any kind of reality.
 
Old 03-13-2013, 06:20 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,004,431 times
Reputation: 5057
and investors aren't really hitting the 200k+ mark..... My home was almost 600k in 2006, I paid 252 in 2008, bottomed at 175 in 2011... now same home on the street is around 225-235 if one becomes available....
 
Old 03-13-2013, 06:28 PM
 
Location: Las Vegas
526 posts, read 833,217 times
Reputation: 640
When I purchased my house in 2011, price/sq.ft. was about $65-$70. Now I notice they are $90-$100. Asking prices definitely on upward climb.
 
Old 03-13-2013, 10:52 PM
 
19 posts, read 29,215 times
Reputation: 32
What they paid is irrelevant - it's what the market yields today that matters. The sword has certainly taketh from most of late and for those that picked the bottom, it giveth back a little.
 
Old 03-13-2013, 11:19 PM
 
Location: Kalamalka Lake, B.C.
3,563 posts, read 5,379,892 times
Reputation: 4975
Default I believe anyone on the internet in a

Quote:
Originally Posted by VegasVicsezhowdy View Post


Greedy flipper - - YouTube

Howdy Podner!
Vegas Vic
I believe any guy in a magenta shirt with a pair of ill-fitting slacks from Value Village.
And notice how quickly all concerned spend the equity! Yah, we're really learning our lessons from the downturn and credit crunch, aren't we?
 
Old 03-14-2013, 12:59 AM
 
6,385 posts, read 11,891,633 times
Reputation: 6875
Quote:
Originally Posted by thedwightguy View Post
I believe any guy in a magenta shirt with a pair of ill-fitting slacks from Value Village.
And notice how quickly all concerned spend the equity! Yah, we're really learning our lessons from the downturn and credit crunch, aren't we?
Please summarize what the lessons were.

I think if you asked 100 people you would get at least 50 different lessons from it. Many would have the word "greed" in it, but almost everybody behaves in a greedy fashion in one way or another.
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